BCCI president Anurag Thakur has termed the Lodha panel’s decision to freeze the board’s accounts as “unfortunate” which has put the India-New Zealand series in jeopardy with one BCCI official telling Indian Express that the series has been cancelled with no funds available to be dispersed. The New Zealand tour has one Test and five ODI’s remaining after India had won the first two Tests to win the series.

He maintained the cloud over the series by saying that cricket and any tournament cannot be held without funds being available. “Really unfortunate that all BCCI accounts have been frozen, there can’t be any tournament without money,” he told the media.

“Cricket cannot run without money. We don’t take money from the government. We are not allowed to make payments. I can’t say anything about the India – New Zealand series. Team India is number one today, when we are financing state boards, questions are being raised,” he added.

Earlier in the day, Justice Lodha had clarified that their suggestion to the BCCI has been misinterpreted as the panel has asked the board to not distribute large funds to state associations while routine functions such as hosting of cricket matches can go ahead as planned.

In other reports, BCCI’s accounts are maintained by Yes Bank and Bank of Maharashtra and the accounts in both have been unfrozen ever since the exclusive report by the Indian Express said the series was being cancelled.

India and New Zealand are scheduled to play the third Test in Indore on Saturday with five ODI’s to follow right after.